{"data":{"id":"us-in/ic-37-2-6-11","jurisdiction":"us-in","citation":"IC 37-2-6-11","heading":"Debtor's right to rescind; accruing interest prohibited during rescission period; disbursement of proceeds","body":"Sec. 11. (a) A violation by a creditor of Section 125 of the Consumer Credit Protection Act concerning the debtor's right to rescind a transaction that is a consumer credit sale or a consumer loan constitutes a violation of this article. A creditor may not accrue interest during the period when a consumer loan may be rescinded under Section 125 of the Consumer Credit Protection Act (15 U.S.C. 1635).\n(b) A creditor must make available for disbursement the proceeds of a transaction subject to subsection (a) on the later of:\n(1) the date the creditor is reasonably satisfied that the consumer has not rescinded the transaction; or\n(2) the first business day after the expiration of the rescission period under subsection (a).","path":["TITLE 37. CONSUMER LENDING","ARTICLE 2. UNIFORM CONSUMER CREDIT CODE","Chapter 6. Remedies and Penalties"],"source_url":"https://iga.in.gov/ic/2026/Title_37.html#37-2-6-11","current_through":"2026","vintage":"2026","retrieved_at":"2026-08-22T06:53:15Z","sha256":"70061e2bc3f1374566aaf2462b80d00ffdcc22de1798912ca81821aac5c0646f","source_id":"us-in","stale":false,"prev":"us-in/ic-37-2-6-10","next":"us-in/ic-37-2-6-12"},"notice":"GroundRules: Original legal text. Not legal advice."}